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Re: Micro lot trading
[Re: jcl]
#409854
10/23/12 07:06
10/23/12 07:06
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Joined: Oct 2012
Posts: 75
hughbriss
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Joined: Oct 2012
Posts: 75
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Re: Micro lot trading
[Re: hughbriss]
#425860
07/11/13 20:04
07/11/13 20:04
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Joined: Jul 2013
Posts: 522
dusktrader
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Joined: Jul 2013
Posts: 522
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Hello, I'm sorry to resurrect an old thread here... but I have some questions regarding microlot trading that brought me here while searching for the answer.
I am looking at definitely using microlot trading when I start live with Zorro, and I see that you do recommend that also. However, I still haven't decided if I will begin with an IBFX microlot account (MT4) or FXCM (more questions on that later).
My question is about how to ensure that Zorro is configured for simulating the IBFX microlot account. This is a 5-digit broker, where 0.01 lot equals USD $0.01 on EURUSD. This is handy for testing strategies because I can just crank down the leverage to pennies while I'm testing.
According to my live IBFX microlot platform (EURUSD): Digits: 5 Contract size: 10000 Swap long: -0.052 Swap short: 0.038 Margin initial: 10000.00 Margin maintenance: 10000.00
In reading the Zorro manual in the data import/export section, I believe AssetsFix.dta is the file I would need to modify. In several places you've mentioned that the default simulation mode is already set to microlot. However, I'm confused in looking at AssetsMicro.dta because I don't understand the values in the Margin and Lot columns. In the US, I believe the margin limit is 50:1 (not 10:1 as I read on your manual page). So I'm trying to figure out how to set Zorro to reflect 50:1 leverage for simulation purposes.
Also, I read somewhere that Zorro also defaults to 1 lot during simulation. Can you please confirm that a microlot configuration equates 1 lot to be 0.01? That is how I enter it in my platform if I want to risk $0.01 penny. I would like Zorro to use 0.01 broker lots as the minimum.
THANK YOU
PS: it could be that my IBFX account is actually a "mini" account (thus the 10000 contract size) but that they also allow microlot trading in the account.
Last edited by dusktrader; 07/11/13 20:13.
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